Cytonn Investment is today set to launch its asset management arm in following approval by the Capital Markets Authority (CMA) as a licensed Real Estate Investment Trust manager.
The move will see cytonn increase its asset management portfolio, which stands at Sh21 billion, when it officially launches Cytonn Asset Managers.
According to the chief executive officer Edwin Dande new company is eyeing Sh1.2 trillion assets held by retirement benefit schemes to drive its business to the next level.
“In addition to traditional investments and high-yielding products such as bond funds, equities and real estate that have returned about 18 per cent per annum to our clients, we feel this is one of our compelling offerings and creating development opportunities in the fluid money market,” said Dande.
The company, which is celebrating its fifth anniversary since it was founded, hopes to ride on its diversified real estate portfolio and high-yielding investment solutions to deliver robust performance in the asset management segment.
“Being a real estate and private equity firm, our strategy is to focus on this attractive investment segment and develop it by spearheading the digitisation of the money market fund where clients would be able to access their money right on their digital devices,” said Mr Dande.
According to experts, lack of well-grounded asset managers in the fluid money markets has led to poor performance.
Cytonn says in a bid to penetrate the market at the counties, it plans to spread its wings to major commercial centres in the country including Mombasa, Kisumu, Eldoret, Nyeri, Meru and Nakuru.